| 3 December 2023, Sunday |

McDonald’s sales soar on strong US demand

As America emerges from the pandemic, it’s heading to McDonald’s.

The burger giant said Thursday that its first quarter sales surpassed even two years ago, long before COVID-19, led by a big jump in U.S. demand. McDonald’s revenue rose 9% to $5.1 billion for the January-March period. That beat Wall Street’s forecast of $5 billion, according to analysts polled by FactSet.

U.S. same-store sales, or sales at locations open at least a year, rose 14%. Fewer diners visited, and many dining rooms remain closed. But those who did come ordered more. McDonald’s said new products, including a crispy chicken sandwich and spicy nuggets, helped draw customers.

Worldwide, same-store sales rose 7.5%, well above the 5% gain analysts forecast.

McDonald’s said its net income rose 39% to $1.5 billion. Adjusted for one-time items, the company earned $1.92 per share, beating Wall Street’s forecast of $1.81.

  • Associated Press